RBI has slapped a $1 million penalty on Yes Bank for failing to promptly notify the central bank of a 2016 data breach of its ATM Network. Many security practitioners are praising RBI for issuing the penalty, saying it calls attention to the importance of timely breach notification.
For the second time in two years, Hyatt Hotels suffered a payment card data breach after attackers infected payment card processing systems with malware. The latest breach lasted for over three months and affected 41 Hyatt hotels across 11 countries.
A hacker exploited an unpatched, 12-month-old flaw in a small Australian defense contractor's IT help desk and stole data for the country's F-35 Joint Strike Fighter program, among other secrets, the Australian government has warned.
Credit-reporting agency Equifax now says records exposed in the massive data breach it revealed last month included information relating to 15.2 million U.K. residents - a much higher figure than the business first suggested.
It is said that "Data is the new oil." If that's the case, then organizations need to do a far better job inventorying and securing their wells, says Laurence Pitt of Juniper Networks. He offers insights on leveraging and securing data.
Malware-wielding attackers reportedly hacked into a Taiwanese bank last week and transferred nearly $60 million via fraudulent SWIFT money-moving messages to accounts in Cambodia, Sri Lanka and the United States. Authorities say most of the stolen funds have been recovered.
The commenting platform Disqus is resetting passwords after discovering that its database was breached in 2012. The breach is one of several older breaches that have only now come to light, thanks to the stolen data having surfaced. But how many older breaches have yet to be discovered?
Equifax ex-CEO Richard Smith asserts that a single employee's failure to heed a security alert led to the company failing to install a patch on a critical system, which was subsequently exploited by hackers. But his claim calls into question whether poor patch practices and management failures were the norm.
When Yahoo first disclosed a massive 2013 breach last year, it said 1 billion accounts appeared to have been compromised. But the search giant, now owned by Verizon, says "new intelligence" has revealed that the breach compromised every single Yahoo account, affecting 3 billion users in total.
At the first of three Congressional hearings slated this week to examine the Equifax mega-breach, one Republican said of the company's delay in detecting the breach: "It's like the guards of Fort Knox forgot to lock the doors and failed to notice the thieves were emptying the vaults."
The online exposure of an unsecured spreadsheet containing personal data on 660 subscribers to the Affordable Care Act health insurance exchange in Vermont has led the state to impose a $264,000 penalty on an IT services firm.
Credit-reporting agency Equifax says its massive breach was even worse than it suspected, affecting 145.5 million U.S. consumers. But it revised the number of suspected Canadian victims from 100,000 down to 8,000, yet says it's discovered that some also had payment card data compromised.
The latest edition of the ISMG Security Report is devoted to a special report on how enterprises around the world should prepare for the European Union's General Data Protection Regulation, which starts being enforced in May.
Former Equifax CEO Richard Smith this week heads to Capitol Hill to testify about the massive breach suffered by the credit bureau. Lawmakers will likely focus on breach detection and response, information security practices and the suspicious timing of three executives' stock sales.